Kuwait Oil posts KD1.13bn profits

23/04/2014 07:15 AST

Kuwait Oil Company (KOC) said profits for 2013-14 fiscal year ending on March 31, amounted to KD1.13bn.

KOC CEO Hashem Hashem said the board members met earlier today to discuss the final statement and achievements of the state-owned company in the 2013-14 fiscal year.

Speaking to KUNA, Hashem said KOC was looking forward to increasing crude oil production and developing the Jurassic gas fields in northern Kuwait with the objective of producing a billion cubic feet of non-associated gas.

KOC, he added, also sought to develop heavy oil wells in northern Kuwait as well as increasing onshore and offshore explorations coupled with the use of state-of-art technologies.


QNA

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